Did Cupid Bring You Precious Jewelry For Valentine’s Day?
It’s Valentine’s Week, and there is just one little thought that we’d like to share: If Cupid brought you some precious jewelry this Valentine’s Day, now may be the time to let us know. The economy may still be slumping, but Valentine’s Day gifts are clearly seen as a worthy investment in love and relationships:
According to the National Retail Federation, jewelry sales were expected to reach $3.5 billion this Valentine’s Day, up from $3 billion in 2010. 17.3% of consumers said they were planning on giving their sweetheart jewelry this year (compared to 15.5% last year.) Yet, a study conducted for the Hartford Financial Services Group shows that about one fifth of respondents have lost a piece of jewelry or a watch in their lifetime. And three quarters of those say that the item had not been insured. In fact, 95% of respondents said they have not changed their insurance after receiving expensive jewelry for a gift. Keep in mind that coverage for certain high-value items is often limited to about $1,500 per piece on a standard homeowner’s policy. You know what’s coming? We understand that ‘insurance’ will probably never make it onto the list of “most romantic things”, but at least we can help you avoid additional heartbreak in case a precious item mysteriously disappears.
For more information on coverage for jewelry, simply call us at 866-660-6800 and let us know the type and value of the jewelry you received. We’ll let you know if any changes should be made to your policy to keep your precious belongings adequately protected. Thank you for allowing us to serve your insurance needs!